FullSpeed Automotive

In early 2017, Grease Monkey International acquired SpeeDee Oil Change & Auto Service to form the perfect partnership between two independent franchisors of automotive oil change centers. It was at that time that the new company name of FullSpeed Automotive was formed. “Since we have two major quick lube automotive franchises under our umbrella – Grease Monkey and SpeeDee – we made the decision to go with a more universal name as a full-service automotive oil change franchise – FullSpeed Automotive,” explains Ralph Yarusso, COO of franchising.

As the company continued to grow in size as well as in sales, it sparked the interest of Dallas-based CenterOak Partners. In September 2017, CenterOak Partners acquired the company and has since provided an influx of resources to FullSpeed Automotive.

Headquartered in Greenwood Village, Colo., FullSpeed Automotive has more than 500 automotive centers across the United States and internationally. The company’s brands include Grease Monkey, SpeeDee Oil Change & Auto Service, LubePro’s and Monkey Shine (car wash). In addition to Grease Monkey and SpeeDee locations, its retail division also operates Havoline xpress lube locations in Georgia and Illinois.

“We have national contracts with all the major players in the oil industry, but we are not required to buy a certain amount of product from them like most quick lube stores are when owned by an oil company,” Yarusso says. “For example, we have a great contract with Mobil and our franchisees buy it at a very competitive price. However, since our franchisees are allowed to purchase oil from the oil company of their choosing, Mobil is constantly reviewing their pricing so that they stay competitive.”

In addition to quick lube oil changes, FullSpeed Automotive provides a variety of other services, such as tire rotations, brake service, suspension repairs and minor electrical system repairs. The new parent company name, FullSpeed Automotive, draws on the customer appeal of its quick lube brands, all of which emphasize speed of professional service while also providing expert recommendations for additional automotive maintenance and repair needs.

Fast and Professional

FullSpeed Automotive’s quick lube brands emphasize fast, professional service and one of the company’s greatest differentiators is its Certified Pit Crews. Crew members must attend training to become certified. “This is a rigorous course,” Yarusso attests. “It’s in response to our customer surveys that communicated that customers want to come in and have their service done right, fast and performed by certified technicians.”

A minimum of 18 courses must be taken from FullSpeed University, followed by an in-store evaluation by the franchise support director to ensure proper procedure is followed. “We have more than 200 courses online as well for furthering or continued education for franchisees and staff members,” Yarusso says. “The entire crew of each center has to be certified for the center to be designated as a Certified Pit Crew center.”

All Grease Monkey locations offer a specific time guarantee for each customer’s vehicle from when the vehicle pulls into the bay until service is complete. “We start refunding back a dollar for every minute we go over,” Yarusso adds. “We respect our customers’ time, know their time is important and it’s important to us, as well, so we live up to the commitment. It’s part of our ‘less hassle, more hustle!’ customer experience.”

Future Growth

FullSpeed Automotive has 513 locations throughout 34 states, including 92 retail centers, and more than 100 centers in Mexico. In 2016, the company signed its first master franchise agreement in Colombia and has a presence in China and Saudi Arabia, as well.

“We had an amazing 2017 and we exceeded all of our forecasts and projections, and the market continues to thrive,” Yarusso says. “One of the reasons it continues to thrive is the growth of the ‘do it for me’ market and the rapid decline of the do-it-yourself market. The baby boomers are getting to the point where they don’t want to work on vehicles and the millennials and generation X never had a passion for working on their vehicles, so the ‘do it for me’ market continues to explode and we are enjoying that transition.”

FullSpeed Automotive expects to open 13 new SpeeDee franchise stores in 2018, 12 new Grease Monkey franchise centers and many more than that on the retail side. “With single unit and multi-unit opportunities available, FullSpeed Automotive is expecting unprecedented growth in 2018,” Yarusso says.